Libra partner drop out

[percy_tc]

If libra will work only for facebook ads, than they will have a massive daily volume.

I know lot of crypto people skeptic about libra, but actually it could be groundbreaking and even it can improve general opponions about cryptos.

[1714541612]

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[gunhell16]

No surprise here really... 'members' are jumping of titanic because of regulations.
Telegram is also having issues with gram, even if they have ready project now.
I don't like Libra, but regulation even less

whoaa, that was very heavy guys, the effect of a real drop out by their partner. shares from facebook fell. this is when a large project with a large partner has a greater risk. and when it's problematic, the effect is very surprising. and this is still at the beginning.

best thing to describe libra but hey! they are STABLE COIN STABLE COIN> which cant get the investors stable?
i hope they will never be launch! i will never lie i did want FACEBOOK to get there on coin in cryptocurrency but this must not be in this way! i never thought they have a project like this!

[TrevorS]

Zuckerberg directly stated today that Facebook is ready to exit the Libra project if regulators do not approve it. He also said, as far as I know, that the Libra project is not an independent association from Facebook.
This means that this very tricky move Facebook can crank up to save face, and enter the Libra project later when it is convenient and approved by regulators.

[RealMalatesta]

Zuckerberg directly stated today that Facebook is ready to exit the Libra project if regulators do not approve it. He also said, as far as I know, that the Libra project is not an independent association from Facebook.
This means that this very tricky move Facebook can crank up to save face, and enter the Libra project later when it is convenient and approved by regulators.

Should we see this as threat or what because we were not even the one that demanded for the project in the first instance, it is Facebook that is trying to impose the project on us for their own interest. If regulators say that they don’t want it, I think those regulators are more comfortable with the intention of bitcoin creator than they are with the intention of Facebook Libra owner.

If Facebook really feel love for cryptocurrency and wants to make any impact, he should use his large social media database to actually promote bitcoin, because he should know fully well, that bitcoin is the only currency right now that can give us the true freedom that he feel his currency will give or for any purpose that he feel made it deem fit for him to create the coin.

[wxa7115]

Zuckerberg directly stated today that Facebook is ready to exit the Libra project if regulators do not approve it. He also said, as far as I know, that the Libra project is not an independent association from Facebook.
This means that this very tricky move Facebook can crank up to save face, and enter the Libra project later when it is convenient and approved by regulators.

Should we see this as threat or what because we were not even the one that demanded for the project in the first instance, it is Facebook that is trying to impose the project on us for their own interest. If regulators say that they don’t want it, I think those regulators are more comfortable with the intention of bitcoin creator than they are with the intention of Facebook Libra owner.

If Facebook really feel love for cryptocurrency and wants to make any impact, he should use his large social media database to actually promote bitcoin, because he should know fully well, that bitcoin is the only currency right now that can give us the true freedom that he feel his currency will give or for any purpose that he feel made it deem fit for him to create the coin.

If that is what he was trying to achieve I will agree with you and in that case he should take a positive stance towards bitcoin and promote it as mush as he can, but I doubt that was his objective, he just wants to obtain more money and become more powerful and he thought it was a good idea for Facebook to try to create its own coin, but he did not realized he was stepping into the shoes of the governments and they were never going to allow this.

Governments do not take lightly when someone tries to take authority or power out of them and if bitcoin still exist is because is decentralized and we do not know the identity of its creator which are the opposite circumstances of the Libra project.

[Oilacris]

Zuckerberg directly stated today that Facebook is ready to exit the Libra project if regulators do not approve it. He also said, as far as I know, that the Libra project is not an independent association from Facebook.
This means that this very tricky move Facebook can crank up to save face, and enter the Libra project later when it is convenient and approved by regulators.

Should we see this as threat or what because we were not even the one that demanded for the project in the first instance, it is Facebook that is trying to impose the project on us for their own interest. If regulators say that they don’t want it, I think those regulators are more comfortable with the intention of bitcoin creator than they are with the intention of Facebook Libra owner.

If Facebook really feel love for cryptocurrency and wants to make any impact, he should use his large social media database to actually promote bitcoin, because he should know fully well, that bitcoin is the only currency right now that can give us the true freedom that he feel his currency will give or for any purpose that he feel made it deem fit for him to create the coin.

If that is what he was trying to achieve I will agree with you and in that case he should take a positive stance towards bitcoin and promote it as mush as he can, but I doubt that was his objective, he just wants to obtain more money and become more powerful and he thought it was a good idea for Facebook to try to create its own coin, but he did not realized he was stepping into the shoes of the governments and they were never going to allow this.

Governments do not take lightly when someone tries to take authority or power out of them and if bitcoin still exist is because is decentralized and we do not know the identity of its creator which are the opposite circumstances of the Libra project.

Even if we do know Bitcoins creator there no way we can stop it unlike on other centralized coins which can possibly be stopped if they wanted to.

Government do hate up those things that cant be controlled and they already saw Bitcoins features and its really a threat in terms of anonymity and decentralization and now
Facebook do tend to create on its own? We do know on how big it is and government already presumes on what would be the possibility of the outcome yet supporters of this coin will be massive basing on the current numbers of fb users.

[Jating]

Can you provide a link though where Mark directly stated that?

Zuckerberg directly stated today that Facebook is ready to exit the Libra project if regulators do not approve it. He also said, as far as I know, that the Libra project is not an independent association from Facebook.
This means that this very tricky move Facebook can crank up to save face, and enter the Libra project later when it is convenient and approved by regulators.

Because I was under the impression that Facebook or Mark himself is very passionate to release Libra next year and will fight any backlash against them. They even hire lobbyist, so there's a plan to really get this project moving next year.

Libra partners are dropping because obviously they are afraid of US government putting all their efforts to stop their projects and partners might be affected negatively.

[DabsPoorVersion]

Can you provide a link though where Mark directly stated that?

Zuckerberg directly stated today that Facebook is ready to exit the Libra project if regulators do not approve it. He also said, as far as I know, that the Libra project is not an independent association from Facebook.
This means that this very tricky move Facebook can crank up to save face, and enter the Libra project later when it is convenient and approved by regulators.

Because I was under the impression that Facebook or Mark himself is very passionate to release Libra next year and will fight any backlash against them. They even hire lobbyist, so there's a plan to really get this project moving next year.

Libra partners are dropping because obviously they are afraid of US government putting all their efforts to stop their projects and partners might be affected negatively.

I think this is the news he was talking about
https://www.cnbc.com/2019/10/23/facebook-would-leave-libra-association-if-it-moves-forward-before-approval.html

Their main point here is, Mark Zuckerberg or Facebook itself will abandon the libra association if they will continue to move forward without the regulatory approval. He is against the libra association's decision to release the project even without the approval.

[Emmy92]

Visa, mastercard, ebay, paypal, drop out from libra..
will libra still continue ...? why one by one partner liba drop out.? https://twitter.com/coindesk/status/1182747730248118280?s=21

I tend to think otherwise, that is, Libra is likely to stop. The reason is, these partners joined in the first place owing to what they believed could come out or what the future holds, but now the credibility is being questioned they had no choice than to quit. We should remember that partners contributes in one way of the other towards the development and growth of any project, if Libra has it all it wouldn't have requested for partners. Nevertheless I might be wrong, but this is what I feels will happen.

[wack slacker]

Facebook was very greedy in wanting to release their own cryptocurrency.  They make a lot of money from services, from selling user data.  They have many partners but they are not really serious in the project.  Unlike the CEOs of other large corporations, Zuckerberg doesn't show much interest in Bitcoin or other things related to Blockchain or Crypto.  And moreover, they are having trouble with the regulations regarding currency issuance, only when Libra operates as a bank will it be accepted.  This makes the government unacceptable, each country just needing a bank

[Youghoor]

Visa, mastercard, ebay, paypal, drop out from libra..
will libra still continue ...? why one by one partner liba drop out.? https://twitter.com/coindesk/status/1182747730248118280?s=21

Considering recent challenges faced by Mark Zuckerberg regarding his intention to develop libra,  it might take a while before the full launch of Libra. The partners of Libra drop out because of the legal challenges faced on the own idea of creating a digital currency that has the potential of devaluing the US dollar.  The launch of libra will not be any time soon.

[rose9696]

I think they will no longer have enough capital and afford to continue debuting. The US government is really making things worse for Libra.
The bad news is constantly appearing when the hearing takes place and the size of this project is getting smaller. We can see a dark future and it seems that Facebook will end this project soon when there are no more important partners like Visa, Mastercard.

[landoffaucets]

Visa, mastercard, ebay, paypal, drop out from libra..
will libra still continue ...? why one by one partner liba drop out.? https://twitter.com/coindesk/status/1182747730248118280?s=21

Oh really? They lost the most important partners especially in the payment industry, these partners could provide Libra experience in this industry and without them I think that the chances of launching are now much lower.

[posi]

Visa, mastercard, ebay, paypal, drop out from libra..
will libra still continue ...? why one by one partner liba drop out.? https://twitter.com/coindesk/status/1182747730248118280?s=21

Oh really? They lost the most important partners especially in the payment industry, these partners could provide Libra experience in this industry and without them I think that the chances of launching are now much lower.

The chance of creating the Libra coin is already lower right from the day some government and institutions are against the project concept which also the reason why some of the project partners slightly drop out. Besides, i also learned that the chance of coin to be a success is 20%.

[TrevorS]

Visa, mastercard, ebay, paypal, drop out from libra..
will libra still continue ...? why one by one partner liba drop out.? https://twitter.com/coindesk/status/1182747730248118280?s=21

Oh really? They lost the most important partners especially in the payment industry, these partners could provide Libra experience in this industry and without them I think that the chances of launching are now much lower.

These were key partners, but by no means the only ones able to provide their payment infrastructures.
In addition, cryptocurrencies already have a fairly well-developed infrastructure, therefore, without these partners, the scope of the project will decrease, but not critically.
Especially with such pressure from regulators, I would be surprised if all partners remained in their places.

[Finestream]

Visa, mastercard, ebay, paypal, drop out from libra..
will libra still continue ...? why one by one partner liba drop out.? https://twitter.com/coindesk/status/1182747730248118280?s=21

If they left the project that doesn't mean they will not come back when Libra will be successfully launch.
Maybe they are just playing safe at the moment as Libra has been criticized by the government but since its not operational yet, its not a big deal though.
The influence of Libra is huge what they need to focus on is just to have a successful launch and good news will follow.

[FaithInCrypto]

I've been hearing about Libra and its relationship with Facebook months ago but it seems that the hype dissipated before I paid attention to it. So this is the reason why. I hope the Libra team is able to still launch this project even if its mainly for Facebook use. I don't wanna be skeptical, I know lots of people are using Facebook but it doesn't mean it has a huge market as only still a few percentages of users are aware of crypto. Still, they'll be doing another great job because through them more people will be aware of how useful crypto is.

[starblocks]

The main reason these major partners withdrew from the project is because of regulatory pressure and Libra is not at a stage yet where it compliant enough to cater for large payment processors needs in this area, but hopefully will be next year which if so will be another turning point for the industry

[aioc]

Visa, mastercard, ebay, paypal, drop out from libra..
will libra still continue ...? why one by one partner liba drop out.? https://twitter.com/coindesk/status/1182747730248118280?s=21

If they left the project that doesn't mean they will not come back when Libra will be successfully launch.
Maybe they are just playing safe at the moment as Libra has been criticized by the government but since its not operational yet, its not a big deal though.
The influence of Libra is huge what they need to focus on is just to have a successful launch and good news will follow.

That's also what I'm looking for, these companies that left Libra will go back when it is safe, they have an interest to protect and they want nothing to do with Libra coin now, but things will change after they soften these adversaries, but everything is yet to be seen, so we have something to watch out for next year.

[cryptoadept]

FB was consistently destroying its reputation and this is the result. I choose to support less known but clean projects like Amoveo